Yiren Digital (NYSE:YRD) Trading Up 8.9% – What’s Next?

Yiren Digital Ltd. (NYSE:YRD) shares traded up 8.9% during trading on Wednesday . The company traded as high as $7.00 and last traded at $6.98. 59,286 shares changed hands during trading, a decline of 54% from the average session volume of 130,050 shares. The stock had previously closed at $6.41.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Yiren Digital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th.

Yiren Digital Price Performance

The business’s 50-day moving average price is $5.73 and its two-hundred day moving average price is $5.45. The firm has a market cap of $619.37 million, a price-to-earnings ratio of 2.43 and a beta of 0.71.

Institutional Investors Weigh In On Yiren Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in YRD. AXA S.A. boosted its stake in Yiren Digital by 80.7% in the 4th quarter. AXA S.A. now owns 11,562 shares of the technology company’s stock worth $55,000 after buying an additional 5,165 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Yiren Digital in the fourth quarter worth approximately $61,000. Invesco Ltd. purchased a new stake in Yiren Digital in the fourth quarter valued at approximately $71,000. Creative Planning purchased a new stake in Yiren Digital in the third quarter valued at approximately $89,000. Finally, XTX Topco Ltd increased its position in Yiren Digital by 34.5% during the third quarter. XTX Topco Ltd now owns 20,657 shares of the technology company’s stock worth $118,000 after purchasing an additional 5,294 shares during the last quarter. Hedge funds and other institutional investors own 1.99% of the company’s stock.

Yiren Digital Company Profile

Yiren Digital Ltd. provides financial services through an AI-powered platform in China. Its platform provides a suite of financial and lifestyle services. The company offers financial services, which provides a portfolio of loan products to borrowers; insurance brokerage services; and consumption and lifestyle services, including non-financial products and services to meet various consumer needs.